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Wed, December 11, 2024
[ Wed, Dec 11th 2024 ]: Which
Welsh Budget 2025-26: what does it mean for your money?

Welsh Budget 2025-26: what does it mean for your money?

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In its draft Budget for the 2025-26 tax year, the Welsh government pledged to invest additional money in transport and social housing, but proposed no changes to income tax or council tax. Finance minister Mark Drakeford hailed his government's Budget as a fiscal plan 'for a brighter future' that will 'put Wales firmly back on the path of growth'.
The Welsh Budget for 2025-26, as outlined by Finance Minister Rebecca Evans, focuses on protecting public services and supporting the most vulnerable amidst financial constraints. Key points include a 3.3% increase in the health and social services budget, bringing it to £11.8 billion, to address NHS waiting times and social care needs. Education funding will see a slight rise to £3.8 billion, with emphasis on supporting schools and further education. However, local government funding will decrease by 1.3%, which might lead to cuts in services or council tax increases. There's also a significant reduction in the rural affairs budget by 10.5%, affecting agriculture and rural development. Despite these cuts, the budget aims to mitigate the impact of inflation and the cost-of-living crisis by maintaining support for essential services and introducing measures like free school meals for all primary school pupils. Additionally, there are investments in housing, transport, and environmental initiatives, although some sectors like business support and culture will face funding reductions.

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[ https://www.which.co.uk/news/article/welsh-budget-2025-26-what-does-it-mean-for-your-money-aEBMp7B5kvLk ]